Mother Inherits Dead Sonís Student Loans, Petitions to Have Them Forgiven [Archive] - Glock Talk

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HerrGlock
11-29-2012, 07:07
http://abcnews.go.com/blogs/business/2012/11/mother-inherits-dead-sons-student-loans-petitions-to-have-them-forgiven/

sheriff733
11-29-2012, 07:09
Prayers for the loss of her son, but this is one of the risks as a cosigner.

You are legally obligated for what you sign for. I hate that this situation came about, but it is what it is.

HerrGlock
11-29-2012, 07:10
I guess I don't understand this at all. She cosigned the loan. The primary signer can no longer make payments. They go after her for payments. Simple.

Perhaps she should have bought loan live insurance. Every loan I've ever seen has that as an option.

sheriff733
11-29-2012, 07:13
I guess I don't understand this at all. She cosigned the loan. The primary signer can no longer make payments. They go after her for payments. Simple.

Perhaps she should have bought loan live insurance. Every loan I've ever seen has that as an option.

Well, in this day and age of not being responsible for your own actions, I guess I can see where pity should forgive everything in the views of many.

Cali-Glock
11-29-2012, 07:16
Prayers for the loss of her son, but this is one of the risks as a cosigner.

You are legally obligated for what you sign for. I hate that this situation came about, but it is what it is.

This. Co-signing a loan makes here debt yours. There was a cheap fix - life insurance.

Life insurance is cheap - especially when you are young. When I was 24 I had far less debt, no one had co-signed any loans and I had a $50k life insurance policy in place to cover all my debts, potential funeral expenses, and leave a fair amount of money (?40k after debt and cremation) left over for my parents.

Lonestar 48
11-29-2012, 07:17
I can empathize with the mother, and I can see how she never thought this situation would come up, but hopefully between her and her friends and family, she can figure out a way to do the right thing and get the loan repaid.

Maybe collect obama phones and resell them?

sheriff733
11-29-2012, 07:21
I can empathize with the mother, and I can see how she never thought this situation would come up, but hopefully between her and her friends and family, she can figure out a way to do the right thing and get the loan repaid.

Maybe collect obama phones and resell them?

Maybe start in Cleveland?

From some of the rumors I have heard, everybody in Cleveland got Obama phones. Perhaps those with disability? Low Income? Social Security?

Just a thought.

Gallium
11-29-2012, 07:27
Harsh, and cold...but here it is.


1. she started now has nearly 200,000 signatures demanding the companies forgive the loans and change their policies.

2. Jermaine Edwards went to college to study music production,

3. his mother, Ella, agreed to cosign his student loans to help him attend school.


Since he died of "natural causes", there is a possibility that life insurance MIGHT have been expensive (to them).

ArtificialGrape
11-29-2012, 07:39
It is unfortunate, but the debt is hers.

I'm generally against insuring liabilities (young children) as opposed to assets, but in this case the young man was an asset standing between the debt and the mother, so either he should have been insured, or the loan insured.

I don't have a problem with the mom asking the loan company to forgive the debt, but when they said "no" it is time to own up to the debt rather than to try to find a way around it.

-ArtificialGrape

badge315
11-29-2012, 08:13
Ironically, if everyone who signed the petition kicked in a buck, the loan would be paid off.

Chuck TX
11-29-2012, 08:13
Harsh, and cold...but here it is.


1. she started now has nearly 200,000 signatures demanding the companies forgive the loans and change their policies.

2. Jermaine Edwards went to college to study music production,

3. his mother, Ella, agreed to cosign his student loans to help him attend school.


Since he died of "natural causes", there is a possibility that life insurance MIGHT have been expensive (to them).

If half of those 200k petition signers kicked in 10Ę she could pay the loan off like she's obligated to.

Gallium
11-29-2012, 08:22
If half of those 200k petition signers kicked in 10Ę she could pay the loan off like she's obligated to.


Notice that they are DEMANDING the person carrying the note relieve the debtor of their responsibility.

If a big bank had $20k for her deceased son in an account she would have, in a very shrilly and annoying voice long ago drove them up the wall to give it to her.


Going to college for "Music Production" usually equates to loser who is wandering aimlessly about life. Sorry if that came out harsh (I know someone in music production)

Roger1079
11-29-2012, 08:28
The circumstances suck, but if she didn't want to pay back the loans if the need ever arose, she shouldn't have cosigned in the first place.

I don't see why the need for a news story, it's a fairly simple concept.

It sounds like this lady doesn't have much. If she really can't afford it and doesn't want to do the right thing, maybe she should start looking into filing for bankruptcy.

ray9898
11-29-2012, 08:33
She is part owner in that debt. Why is anyone shocked they turned to her?

sheriff733
11-29-2012, 08:40
She is part owner in that debt. Why is anyone shocked they turned to her?

Because in today's world, you are not responsible for your own actions.

TBO
11-29-2012, 08:46
Because in today's world, you are not responsible for your own actions.

FTW

Sent from the capacitor of my Taser using Tapatalk 2

Z71bill
11-29-2012, 08:47
They should - Do what is best for the long term public good.

Which would be - make her pay the loans.

If you make co-signing a loan meaningless - then the people that don't have the credit score required to get a loan - will just not get loans.

BTW - I would never co-sign a loan - but recall my mom co-signing a loan for me when I was 16 so I could buy (my second) car. 1968 Chevy Impala 2 door coupe. Sweet ride for a 16 year old back in 1974.

$800 car - $200 down - 24 month loan - payment was $28 a month. :rofl: How can I remember these details - but I can't recall what I had for lunch yesterday. :rofl:

Roger1079
11-29-2012, 08:47
She is part owner in that debt. Why is anyone shocked they turned to her?Apparently 200000 people are shocked by it.

I doubt she will get much sympathy around here though.

Z71bill
11-29-2012, 08:55
We should just take all student loan debt and roll it into one big government loan - take the payment required to service the loan - and divide it up between all Americans "lucky" enough to have jobs that pay more than $250,000 a year. :whistling:

redbaron007
11-29-2012, 08:57
WOW! Someone having to be personally responsible for their obligation.......Wow....what a concept. :faint:


:wavey:

red

steveksux
11-29-2012, 09:01
Music production? She should have never co signed a loan for that. She was always going to have to pay that back, and he was always going to be living in her basement.

If you're going to put limited resources into something, make sure it pays off in some theoretical timeframe.

Randy

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rhikdavis
11-29-2012, 09:05
Ironically, if everyone who signed the petition kicked in a buck, the loan would be paid off.

Good point.

Kilrain
11-29-2012, 09:13
The title of the article, "Mother Inherits Dead Son’s Student Loans, Petitions to Have Them Forgiven" is not only totally inaccurate, but most likely intentionally misleading.

She didn't "inherit" anything, she was responsible for the repayment of the loan the minute she cosigned. Bummer she lost hers son, that sucks. Now, however, it appears she's lost her mind if she thinks she shouldn't be responsible to repay the loan.

SC Tiger
11-29-2012, 09:15
She is part owner in that debt. Why is anyone shocked they turned to her?

I think most people think of a co-signer being liable if the primary debtholder doesn't pay up. Death of the primary debtholder probably isn't something she thought about. This doesn't change the responsibility she has to repay the debt though.

Personally I carry enough life insurance to cover all of my debts (plus some) if I kick the bucket, though I expect my wife would try to have the debts cancelled if she could. I would.

nam02G
11-29-2012, 09:24
I think this is a sign of the 'not my fault, not my responsibility' attitude that too many in this country have developed over the years. Recently our local paper ran a half page article about a girl that got a ticket for driving alone in an HOV lane. The whole thing reaked of the same attitude. I do feel sorry for her loss, I'm sure she never dreamed that her son would die. It may also be possible that she didn't understand what it meant to be the co-signer on the loan.

Chuck TX
11-29-2012, 10:17
Notice that they are DEMANDING the person carrying the note relieve the debtor of their responsibility.

If a big bank had $20k for her deceased son in an account she would have, in a very shrilly and annoying voice long ago drove them up the wall to give it to her.


Going to college for "Music Production" usually equates to loser who is wandering aimlessly about life. Sorry if that came out harsh (I know someone in music production)

Music Production? Is that where you find someone with talent, get them signed, and steal a large chunk of their earnings while they waste away in recoupment hell? :rofl:

devildog2067
11-29-2012, 10:20
Does the mom know that a "change.org" petition means exactly... nothing?

sappy13
11-29-2012, 10:31
I hate that she has to pay the debt for her dead kids school, but she signed up for that when she cosigned. Its not the issuers fault that she signed or the child died, and they deserved to get paid what is owed to them. I do think in a case like this it would be fair for them to try and work out a payment plan with her that she can afford.

vikingsoftpaw
11-29-2012, 18:34
Many years ago when I took out student loans, I noticed one of the charges: A 1% charge on the principle to insure the loan in case of my demise.

Aren't they still dong that?

GlockinNJ
11-29-2012, 18:42
One upon a time, a signature meant that you were bound to the terms of the document.

Did this change and I never got the memo?

tantrix
11-29-2012, 19:09
Going to college for "Music Production" usually equates to loser who is wandering aimlessly about life. Sorry if that came out harsh (I know someone in music production)

You're not the first one to connect the dots here...I was just waiting for someone else to say it first... :rofl:


Jermaine Edwards went to college to study music production

:whistling:

Gallium
11-29-2012, 19:30
You're not the first one to connect the dots here...I was just waiting for someone else to say it first... :rofl:




:whistling:


I just say **** like I see it - don't care if you (they) are black, white, reptilian, Ferengi etc.

Glocksanity
11-29-2012, 19:41
Ask TARP for money.

When the big banks go broke, we bail them out, every single time! And then they give themselves record bonuses! We are suckers.

Ha ha ha.

certifiedfunds
11-29-2012, 19:55
Apparently 200000 people are shocked by it.

I doubt she will get much sympathy around here though.

200,000 people who are shocked but not writing checks. They're simply willing to give her sympathy and demand someone else eat the check. I so admire their big-hearted sympathy as they point the finger at someone else and say "you pay"

IOW, 200,000 Obamavoter Leech-types

Rabbi
11-29-2012, 19:57
You're not the first one to connect the dots here...I was just waiting for someone else to say it first... :rofl:




:whistling:

And what is your college degree(s) in?

HexHead
11-29-2012, 20:11
I'm shocked that this could happen to obvious 0bama voters.

Armchair Commando
11-29-2012, 20:17
She co-signed therefore she is solely responsible for his debt. I don't feel bad for her one bit. People need to take responsibility for their actions.

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tantrix
11-29-2012, 21:21
I just say **** like I see it - don't care if you (they) are black, white, reptilian, Ferengi etc.

Yep.



And what is your college degree(s) in?

If you really must know...B.S. in Computer Science from LSU. Interrogation over?

janice6
11-29-2012, 21:46
Signing a loan, or co-signing, is not a casual favor you do for someone. I have heard people I know do that without accepting the responsibility that goes with it. They have "lucked out".

Contract "remorse" means nothing. What is wrong with people. (rhetorical)

Rabbi
11-29-2012, 21:52
If you really must know...B.S. in Computer Science from LSU. Interrogation over?

I wonder why you, who claims to be a cop would make a statement like this to me then?


http://www.glocktalk.com/forums/showthread.php?t=1452900&page=24

Maybe you should crunch numbers and make your own list since you're a what, mathematician? Speaking of which, why would somebody with your supposed level of education be working as a LEO to begin with?

You cant keep your lies straight.

kiole
11-29-2012, 22:06
This happened to someone I knew their son has 150-200,000 in student loan debt as he was attempting to become a lawyer. He took the bar the first time and failed by the smallest amount. The son was at a friends wedding and ODed on oxycodone a few weeks after he took his second bar exam. He received his letter in the mail that he had passed the bar a day after his family buried him. He had a great job lined up at a medium sized firm... His mother was the consigner and is on the hook for his loans. I actually believe the loan companies were very understanding and forgave a large portion of the loans.

rauldduke1979
11-29-2012, 22:36
Many years ago when I took out student loans, I noticed one of the charges: A 1% charge on the principle to insure the loan in case of my demise.

Aren't they still dong that?

I do believe Student Loans - as in, federal student loans - are 100% dischargeable upon death.

Which is why more students really ought to do it Don Draper style: fake their own deaths and then live under an assumed name.

But I digress, the person in question had both private and federal loans. The article mentions that federal loans were forgiven but the private loans continue.

tantrix
11-29-2012, 22:38
I wonder why you, who claims to be a cop would make a statement like this to me then?


http://www.glocktalk.com/forums/showthread.php?t=1452900&page=24



You cant keep your lies straight.

What lies? Yeah, I said that...and I'll say it again. I don't consider a B.S. as a 'high level' of education. You're the one always spouting numbers and harping on the education you have, not I. Matter of fact, I think that's the first time I've ever told anyone here how much formal education I have.

Rabbi
11-29-2012, 22:41
What lies? Yeah, I said that...and I'll say it again. I don't consider a B.S. as a 'high level' of education. You're the one always spouting numbers and harping on the education you have, not I. Matter of fact, I think that's the first time I've ever told anyone here how much formal education I have.



You should keep notes, it will help you keep things straight. you said it and it doesnt make any sense...no matter what you say now. To include a new ludicrous statement that you have never told anyone about your "degree" before.

tantrix
11-29-2012, 22:45
You should keep notes, it will help you keep things straight. you said it and it doesnt make any sense...no matter what you say now. To include a new ludicrous statement that you have never told anyone about your "degree" before.

Ah...no answer except for drivel that's not even related to the subject. Classic Rabbi. :thumbsup:

Rabbi
11-29-2012, 22:52
Ah...no answer except for drivel that's not even related to the subject. Classic Rabbi. :thumbsup:

You are the last person who can play the "you have no answer" card.

tantrix
11-29-2012, 23:01
You are the last person who can play the "you have no answer" card.

It only seems like I have no answer because you're the only person here who always seems to have the right answer. If only the world worked like you think (oops...KNOW) it does.

ETA- Here's a question I'd bet a lot here want to know: Why do you even question anyone on GT when you (think) you already know the answer better than they do? :whistling:

Rabbi
11-29-2012, 23:09
It only seems like I have no answer because you're the only person here who always seems to have the right answer. If only the world worked like you think (oops...KNOW) it does.

ETA- Here's a question I'd bet a lot here want to know: Why do you even question anyone on GT when you (think) you already know the answer better than they do? :whistling:


You, I question because few things you say add up and you know very little about things you claim to be....that and all the lies you have been caught in.

You are a man without honor or integrity. You call me a "know it all"...fine. We each have what we bring to the table.

Critias
11-29-2012, 23:16
She co-signed therefore she is solely responsible for his debt. I don't feel bad for her one bit. People need to take responsibility for their actions.
I feel sorry for her, but not for the loans. I'm sorry any time a parent has to bury a child...but the thing she needs to understand is that it's not a bank's job to feel sorry for people. It's a bank's job to give loans, charge interest, and then collect on it in order to stay in business.

It's terrible any time someone loses someone that young, and it's certainly fair to be surprised (and not just saddened) by it. But all that said, she still co-signed. Some of her loans were forgiven (quite generously), but she still has to pay the rest. That's what a contract means.

tantrix
11-29-2012, 23:18
You, I question because few things you say add up and you know very little about things you claim to be....that and all the lies you have been caught in.

You are a man without honor or integrity. You call me a "know it all"...fine. We each have what we bring to the table.

Lies...:rofl:

You got trolled with the rest of them, and your ass is still chapped just like theirs. That's fine, as I already said long ago you guys needed to piss off and leave me alone but you wouldn't. It also seems you all can't stay out of the GNG that you claim is full of nothing but "cop haters". Irony at it's best.

Here's a little FYI: Just because you don't know everything about me doesn't mean I misrepresented myself, it means you know as much about me as I want you to know.

Rabbi
11-29-2012, 23:22
Lies...:rofl:

You got trolled with the rest of them, and your ass is still chapped just like theirs. That's fine, as I already said long ago you guys needed to piss off and leave me alone but you wouldn't. It also seems you all can't stay out of the GNG that you claim is full of nothing but "cop haters". Irony at it's best.

Here's a little FYI: Just because you don't know everything about me doesn't mean I misrepresented myself, it means you know as much about me as I want you to know.

I know you used the names of two dead Officers to play your game. I know that you were caught lying.

No matter who you are, again, you are a man without honor or integrity.

tantrix
11-29-2012, 23:44
I know you used the names of two dead Officers to play your game. I know that you were caught lying.

No matter who you are, again, you are a man without honor or integrity.

Actually, I used 3...at least get it right. And I knew all 3 that I mentioned...unless you can prove that I didn't (which you can't, because I did) then shut your pie-hole. I know it irritates you that you don't know something you want to, but you're simply not going to get it, along with the rest of your posse. Had I been approached properly, like professionals should, you would have gotten what you wanted to know. You're nothing more than a bully who claims to know more than he actually does. But hey, it's a free country...if it makes you feel better or sleep well at night, go for it.

Rabbi
11-30-2012, 01:23
Actually, I used 3...at least get it right. And I knew all 3 that I mentioned...unless you can prove that I didn't (which you can't, because I did) then shut your pie-hole. I know it irritates you that you don't know something you want to, but you're simply not going to get it, along with the rest of your posse. Had I been approached properly, like professionals should, you would have gotten what you wanted to know. You're nothing more than a bully who claims to know more than he actually does. But hey, it's a free country...if it makes you feel better or sleep well at night, go for it.

Yes, we get it. In your mind, it is always others fault.

But that still doesnt explain your flat out lies, such as the pictures you posted.

It still doesnt explain your utter lack of knowledge of things you should know.

It still doesnt explain all the contradictions in your stories,



And when such things are pointed out, you tend to tell us "ha, I got yall good, just kidding" or "Yall are mean so I am not going to play anymore."...and you invoked the names of Officers killed in the line of duty to "play" your game.

Again, no matter what you do, you are still a person without honor or integrity.

czsmithGT
11-30-2012, 02:37
Yes, we get it. In your mind, it is always others fault.

But that still doesnt explain your flat out lies, such as the pictures you posted.

It still doesnt explain your utter lack of knowledge of things you should know.

It still doesnt explain all the contradictions in your stories,



And when such things are pointed out, you tend to tell us "ha, I got yall good, just kidding" or "Yall are mean so I am not going to play anymore."...and you invoked the names of Officers killed in the line of duty to "play" your game.

Again, no matter what you do, you are still a person without honor or integrity.

Why don't you take your stupid blood feud somewhere else instead of crapping all over someone else's thread with your off-topic arguments.

IndyGunFreak
11-30-2012, 03:17
I do believe Student Loans - as in, federal student loans - are 100% dischargeable upon death.

That's what the 1% charge is for (think of it as a federal insurance policy)... I think they still do this. The real issue with this lady, is she co-signed a private loan through a bank. That makes her responsible. It sucks for her, but it is what it is.

Which is why more students really ought to do it Don Draper style: fake their own deaths and then live under an assumed name.

OK, live under an assumed name, but then how do you prove you're educated? ;)

tantrix
11-30-2012, 03:27
And when such things are pointed out, you tend to tell us "ha, I got yall good, just kidding" or "Yall are mean so I am not going to play anymore."...and you invoked the names of Officers killed in the line of duty to "play" your game.

Again, no matter what you do, you are still a person without honor or integrity.


Again, everything is truth except for the 2 pictures I trolled you (and others) with. You kept on with your BS (even after I stated you weren't getting what you wanted) so you got what you deserved. Neither you nor anybody else "pointed out" anything...I even begged anyone to, and nothing came of it. Again, put on some Depends to cushion the butt-hurt you're feeling about not being right all the time, and you'll be ok...I promise.




Why don't you take your stupid blood feud somewhere else instead of crapping all over someone else's thread with your off-topic arguments.

Thank you.

KY Moose
11-30-2012, 03:31
I feel sorry for her, but not for the loans. I'm sorry any time a parent has to bury a child...but the thing she needs to understand is that it's not a bank's job to feel sorry for people. It's a bank's job to give loans, charge interest, and then collect on it in order to stay in business.

It's terrible any time someone loses someone that young, and it's certainly fair to be surprised (and not just saddened) by it. But all that said, she still co-signed. Some of her loans were forgiven (quite generously), but she still has to pay the rest. That's what a contract means.

Well said.

Years ago, a friend asked me to consign a loan. Although he was trying to recover from some financial troubles I wasn't comfortable with it, especially with his current situation.

Luckily I made the right choice because he defaulted and his Dad, who consigned, had to assume liability.


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GlockinNJ
11-30-2012, 06:36
Rabbi - you are generally regarded around here as having wisdom. Is it wise to keep arguing with someone the way you are?

OK, back to the thread, but it seems we all agree that if you cosign, you are responsible - the end.

redbaron007
11-30-2012, 07:06
It never fails.....anytime I see 'tantrix' in a thread...I know it is going way off topic and usually involves him/her accusing someone of not being truthful and/or dancing around a question. :whistling:

It's easier to herd cats than follow tantrix. :faint:


:wavey:

red

tantrix
11-30-2012, 07:22
It never fails.....anytime I see 'tantrix' in a thread...I know it is going way off topic and usually involves him/her accusing someone of not being truthful and/or dancing around a question. :whistling:

It's easier to herd cats than follow tantrix. :faint:


:wavey:

red


Only certain threads, and always the same 'people'. They'll eventually tire themselves out though.

wvtarheel
11-30-2012, 07:52
This third loan she is on the hook for is not even a federally backed student loan. I bet her son got in with one of these private loan outfits that will give students twenty grand a year at stupid rates, don't care what they spend it on, so long as someone with some assets co-signs.

She has made her bed and now must lie in it.... co-signing that thing was a poor investment decision

rednoved
11-30-2012, 08:42
A co-signer is responsible for a contract they signed. Weird.

Rabbi
11-30-2012, 09:40
Again, everything is truth except for the 2 pictures I trolled you (and others) with. You kept on with your BS (even after I stated you weren't getting what you wanted) so you got what you deserved. Neither you nor anybody else "pointed out" anything...I even begged anyone to, and nothing came of it. Again, put on some Depends to cushion the butt-hurt you're feeling about not being right all the time, and you'll be ok...I promise.


Its all true....except...


Again, you are a man without honor or integrity.